Budgeting

Surplus Cash is...

• Money you should spend right away.

• Cash remaining after all expenses are made.

• Cash you should not spend

• Cash you did not profit from.

Deficit of Cash

• no cash

• an excess amount of expenses over income, resulting in insufficient funds as well as in decreased net worth

• having a lot of money

• A low amount of money resulting in having a lot of cash.

Assets

• money and other valuables that do not belongs to a business

• money you can spend whenever you want.

• money and other valuables belonging to an individual or business

• money you get from your parents.

Balanced Budget

• Budget in which revenues are not equal to spending

• Budget that the bank gives you in a loan.

• Budget you make in class.

• Budget in which revenues are equal to spending

Disposable Cash or Income

• Income you have left over that you give to your parents.

• Income remaining for a person to spend or save after all taxes have been paid

• Income you cannot use for retirement.

• Income you do not have.

Emergency Fund

• A savings account for retirement

• An amount of money you can spend on food

• A savings account that is set aside to be used only for emergency expenses

• An amount of money you save for a house.

Investing

• The process of saving money to spend it on the weekend.

• The process of setting money aside to increase wealth over time for long-term financial goals such as retirement

• Saving money to spend on a house.

• Time you spend on a goal.

Gross Pay

• the total amount of an employee's earnings after taxes.

• the total amount of an employee's earnings before deductions are taken out

• the total amount you can put into savings.

• the total amount an employee makes for an emergency.

Net Pay

• Amount of income an employee makes before taxes.

• Amount of income left after taxes and deductions have been taken out.

• Income after you set savings aside.

• Income you borrow from a bank.

PYF stands for:

• pay your friend

• plan your finances

• Pay your finances

• Pay yourself first.